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Jay-Z’s Firm Backs $33 Million Investment in Madison Reed

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Sandbridge Capital and Jay-Z’s venture capital business are investing $33 million in beauty brand Madison Reed, which will use the money to expand its hair color bar presence, the firms said

Sandbridge Capital and Jay-Z’s venture capital business are investing $33 million in beauty brand Madison Reed.

Madison Reed will use the money to expand its hair color bar presence, the firms said in their announcement Thursday. The company plans to use the funding to expand in New York City, Washington, D.C. and Chicago, hire 850 new colorists and expand its omnichannel offerings.

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